- Casino revenue dips in Nevada
- Blackstone submits request to purchase Crown Resorts Ltd.
- Las Vegas dealer school enrollment on the rise
This week’s casino news has a bit of a Las Vegas focus as there’s plenty of action on or near The Strip. Let’s start off with the latest gaming numbers, which again showed a year-over-year decline.
Nevada Casinos See Revenue Drop Yet Again
It has now officially been a full year of revenue declines for casinos in the state of Nevada. It was reported that the casinos were able to generate $772.4 million from gamblers during the month of February, which is still a healthy result, but those numbers still mark as a 25.9 percent year-over-year decline. This drop comes after the 26.6 percent decrease during the month of January and goes as the 12th straight month of falling revenue.
The streak is expected to end after March because March 2020 was the first month that all of the casinos were shut down in response to the COVID-19 pandemic. A year later, casinos should be operating at 50 percent capacity during the month of March, which should help those numbers as well.
Going forward, the gaming numbers should slowly start to return to normal as everything starts to come back. Casinos are beginning to hold more people at a time while also reopening a few games that have been closed for quite some time. The next step will be for travel to fully open up so tourists from around the world can once again visit Las Vegas.
Blackstone Group Submits Request To Buy Australian Casino
Blackstone Group Inc. has long been an investor in the gaming industry, and now they’re adding more to the portfolio Down Under. After acquiring a number Las Vegas casinos, they just submitted a proposal to purchase one of the biggest casinos in Australia as they want to pick up Crown Resorts Ltd. for a whopping $6 billion.
Blackstone is submitting their request at an opportune time given that the Crown was recently investigated over money laundering claims and was about to be deemed unfit to hold a gaming license. If they were to sell their establishment over to Blackstone, they would likely be able to keep their license at least for a little while longer. Blackstone is trying to swoop in at a time when the business is hurting a little bit, so they might get a discount.
If the deal goes through, Blackstone would add the Crown to its growing list of properties, which includes The Cosmopolitan Las Vegas, which they purchased for $1.73 billion, the Bellagio, which they bought for $4.25 billion and Mandalay Bay, which they acquired for $4.6 billion.
Enrollment Spikes At Las Vegas Dealer Schools
It seems like a lot of people are trying to get themselves familiarized with table game dealing.
Las Vegas area dealing schools have reported an uptick in applicants and considering the timing, it seems odd. There has actually been so many applicants that some of the schools are already at their maximum capacity and can’t accept anymore.
The owner of the CEG Dealer School, David Noll, told reporters that he was forced to limit enrollment on multiple occasions because there was such an influx of new interest. Part of it was people who were new to gaming altogether and were looking for a new career skill while many others were already in the casino industry and were looking to get training to switch positions.
The casino industry in Nevada has been showing some signs of life lately despite a year of revenue decline and are hoping that things return to normal soon. Gov. Steve Sisolak recently announced that casinos were going to operate at 50 percent capacity during the month of March and that – along with March Madness and spring break – has caused tourism to spike during the month as well.